senate Bill S4450

Signed by Governor Amended

Authorizes the town of Stockport to transfer reserve funds to the Water Fund for repayment of a loan from the Town Sewer No. 1 Fund

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor
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actions

  • 01 / Apr / 2013
    • REFERRED TO LOCAL GOVERNMENT
  • 23 / Apr / 2013
    • AMEND AND RECOMMIT TO LOCAL GOVERNMENT
  • 23 / Apr / 2013
    • PRINT NUMBER 4450A
  • 07 / May / 2013
    • 1ST REPORT CAL.588
  • 08 / May / 2013
    • 2ND REPORT CAL.
  • 20 / May / 2013
    • ADVANCED TO THIRD READING
  • 17 / Jun / 2013
    • AMENDED ON THIRD READING (T) 4450B
  • 20 / Jun / 2013
    • HOME RULE REQUEST
  • 20 / Jun / 2013
    • PASSED SENATE
  • 20 / Jun / 2013
    • DELIVERED TO ASSEMBLY
  • 20 / Jun / 2013
    • REFERRED TO WAYS AND MEANS
  • 21 / Jun / 2013
    • SUBSTITUTED FOR A6500B
  • 21 / Jun / 2013
    • ORDERED TO THIRD READING RULES CAL.634
  • 21 / Jun / 2013
    • HOME RULE REQUEST
  • 21 / Jun / 2013
    • PASSED ASSEMBLY
  • 21 / Jun / 2013
    • RETURNED TO SENATE
  • 19 / Jul / 2013
    • DELIVERED TO GOVERNOR
  • 31 / Jul / 2013
    • SIGNED CHAP.264

Summary

Authorizes the town of Stockport to transfer reserve funds to the Water Fund for repayment of a loan from the Town Sewer No. 1 Fund.

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Bill Details

See Assembly Version of this Bill:
A6500
Versions:
S4450
S4450A
S4450B
Legislative Cycle:
2013-2014
Law Section:
General Municipal

Sponsor Memo

BILL NUMBER:S4450

TITLE OF BILL: An act authorizing the town of Stockport to transfer
reserve funds to the Water Fund for repayment of a loan from the Town
Sewer
1 Fund

PURPOSE: To authorize the Town of Stockport to transfer capital
reserve funds to the Water Fund for repayment of a loan.

SUMMARY OF PROVISIONS: The bill, notwithstanding Section 6-c or 6-g
of the General Municipal Law or any other provision to the contrary,
authorizes the governing board of the Town of Stockport to transfer
$100,000 from the Town's Capital Reserve Fund to the Water Fund for
repayment of a loan.

JUSTIFICATION: As of December 31, 2012, the Town of Stockport's Water
fund faced an unreserved cash shortage of nearly $100,000.
Consequently, water rates were adjusted dramatically in the 2013
budget and are anticipated to increase a typical user's annual water
bill from $58.56 annually to $241.92 annually.

If this special legislation is granted, thereby allowing the Town to
transfer $100,000 from its Capital Reserve Fund to the Water Fund, the
Town estimates that the user charges could be stabilized at a lower
rate sparing users as much as $80 per quarter, thus providing some
relief to struggling home owners and businesses.

LEGISLATIVE HISTORY: New bill.

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: Immediately

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4450

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              April 1, 2013
                               ___________

Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN  ACT  authorizing  the town of Stockport to transfer reserve funds to
  the Water Fund for repayment of a loan from the Town Sewer #1 Fund

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Notwithstanding section 6-c or 6-g of the general municipal
law  or  any other provision to the contrary, the governing board of the
town of Stockport may authorize by resolution the transfer  of  $100,000
from  the  Capital  Reserve  Fund to the Water Fund for repayment of the
loan from the Town Sewer #1 Fund. The resolution authorized pursuant  to
this  section  shall  not  be  subject to referendum requirements of the
municipal home rule law.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09773-01-3

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